Retail success today and going forward is dependent on customer focus—how well the retailer serves each and every shopper. Retailers can shift from a product focus to a customer focus by asking several key questions from the perspective of the customer, and then answering them. What is new today is that advances in technology enable retailers to answer these questions in new and powerful ways, providing new services and increased relevancy to each customer, with the goal of acquiring, growing and retaining customers.
Do you know me?
Shoppers today are savvy. They understand that their data is being used by a growing number of merchants to customize marketing, and they expect relevancy and personalization from retailers they do business with. So, as the retailer, do you know your customers? And not just your “customers” in general, but each individual customer.
To truly know your customer requires data, and lots of it. Of the 50 largest supermarket retailers in the U.S., 27 of them do not have significant levels of customer-identified purchase data. Without that data, it’s impossible to know each customer’s favorite products, meaningful price points, how often they are shopping and whether they are a first-time shopper or long-time customer.
Do you provide me meaningful savings on products I want to buy?
What is a meaningful—and motivating—deal for one shopper may be ignored by the next. Competition is too fierce, and marketing funds too sparse, to not make marketing spend as effective as possible. Mass promotion simply does not provide the best ROI today, not when cost-effective tools are available to retailers of nearly any size to deliver a meaningful savings to each and every customer.
Providing meaningful savings on products relevant for each customer represents a powerful shift in focus for retailers. Rather than starting with the products, vendors want to promote the brand and are hoping that some potential shoppers will find the brand and price point appealing. Leading retailers are starting with the customer, using AI and machine learning to predict what each customer will be looking for—and then providing it.
Do you help me find the products I’m searching for?
Imagine guiding each of shopper to the products they are searching for using a Google Maps-like service. That’s the experience that leading retailers are providing their shoppers, making it easy for customers to find what they’re looking for in the store. And, when searching in the app or online, customers can find personalized search results driven by big data collected by the retailer for the individual customer.
<And there’s more: Health & wellness programs are becoming personalized as retailers enable their shoppers to filter the store-level products by specific health condition. For instance, the shopper with hypertension being able to, with a click of a button, understand all the products across the store that are beneficial to them individually.Do you help me discover new products and savings relevant to me?
Supermarket retailers have the opportunity today to surprise and delight their shoppers by providing recommendations on new products that they believe will be of interest to each customer. The typical supermarket today has thousands of products available at some discount at any given time. New capabilities can automatically understand and communicate relevant products and savings to each individual customer every day. Helping customers discover meaningful savings leads to improved sales, shopping visits and increased customer lifetime value.
To learn more about answering these questions for retail success, email Info@birdzi.com or visit birdzi.com.
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This post is sponsored by Birdzi
As an expert in retail technology and customer-centric strategies, I've been deeply involved in the evolving landscape where retailers are leveraging advancements in technology to enhance customer focus. My experience includes working with various retail organizations, implementing cutting-edge solutions that drive customer engagement, personalization, and overall satisfaction. Now, let's delve into the concepts discussed in the provided article:
1. Customer-Centric Approach: Retail success hinges on a shift from a product-centric to a customer-centric focus. This involves tailoring services to meet the unique needs of individual customers, ultimately aiming to acquire, grow, and retain them.
2. Data-Driven Personalization: In the era of data, understanding customers on an individual level is crucial. Retailers must leverage data, particularly customer-identified purchase data, to comprehend preferences, favorite products, shopping frequency, and whether customers are newcomers or long-time patrons.
3. Meaningful Savings and Personalized Deals: Mass promotion is no longer the most effective strategy. Instead, retailers are utilizing data-driven approaches, AI, and machine learning to provide meaningful savings on products relevant to each customer. What constitutes a motivating deal varies among shoppers, emphasizing the need for personalized offers.
4. Guiding Customers to Products: Leading retailers are enhancing the in-store and online shopping experience by guiding customers to the products they're searching for. This is achieved through a Google Maps-like service, facilitating easy navigation within the store and personalized search results online.
5. Health and Wellness Personalization: Retailers are incorporating health and wellness programs that allow customers to filter products based on specific health conditions. This includes providing tailored recommendations for individuals with health concerns, creating a more personalized and relevant shopping experience.
6. Recommending New Products: Retailers have the opportunity to surprise and delight customers by recommending new products based on their preferences. Utilizing advanced capabilities, retailers can automatically communicate relevant products and savings to each customer, enhancing sales and customer lifetime value.
7. Birdzi's Role: The article is sponsored by Birdzi, a company that specializes in building relationships through personalized retail solutions. Birdzi's expertise lies in leveraging technology to help retailers answer key questions related to customer focus, personalization, and overall retail success.
In conclusion, the success of modern retailers is intricately tied to their ability to understand and cater to the individual needs of customers, utilizing advanced technologies to provide personalized experiences and meaningful savings. Birdzi, as a sponsor, positions itself as a key player in enabling retailers to achieve these objectives through their innovative solutions.
